Vivani Medical’s NPM-139 Shows >20% Weight Loss, Phase 1 Starts Mid-2026
Vivani Medical’s semaglutide implant NPM-139 achieved over 20% sham-adjusted weight loss sustained for a year in preclinical studies and follows a successful first-in-human LIBERATE-1 exenatide trial. The company will begin a Phase 1 NPM-139 study in mid-2026 and holds $16.2M cash to mid-2027.
1. Preclinical and Initial Clinical Success
NPM-139, Vivani’s miniature semaglutide implant, demonstrated sustained semaglutide exposure and over 20% sham-adjusted weight loss for a full year in preclinical models. This builds on the LIBERATE-1 first-in-human study of an exenatide NanoPortal implant, which showed positive safety, tolerability and preliminary performance.
2. Phase 1 Trial Timeline
Vivani plans to initiate a Phase 1 feasibility study of NPM-139 in Australia in mid-2026, targeting low-dose safety and pharmacokinetic data, with results expected by the end of the year. Regulatory and tax incentives in Australia support efficient trial conduct.
3. Financial Runway
As of December 31, 2025, Vivani held $16.2 million in cash and equivalents, down from $18.4 million a year earlier, with cash runway extending into mid-2027. Recent financings raised a total of $41.5 million in gross proceeds to fund operations and manufacturing scale-up.
4. Cortigent Spin-Off Plans
Vivani is exploring a spin-off or IPO of its neuromodulation subsidiary Cortigent, with Form 10 or S-1 registration under review. This transition aims to unlock value for stockholders and focus resources on the Biopharm Division.